Egypt Electric Vehicle Market to be Dominated by Propulsion Segment till 2027
Increasing concerns related to greenhouse emission and
increasing investment in electric vehicle to drive Egypt electric vehicle
market, 2023-2027.
According
to TechSci Research report, “Egypt Electric Vehicle Market - By Region,
Competition Forecast & Opportunities, 2027”,
the Egypt electric vehicle market is expected to witness growth at a
significant rate in 2023-2027. An electrical vehicle (EV) refers to a
self-propelling automobile that is widely utilized for transporting passengers
and goods.
It can be charged by self-charging devices, including such as
turbochargers and regenerative braking systems that converts the kinetic energy
into electrical energy or can be powered by a large traction battery pack
present at charging stations. Some of the most common types of EVs available in
the market are battery-electric vehicles (BEVs), plug-in hybrid electric
vehicles (PHEVs) and hybrid electric vehicles (HEVs). When compared with the
traditionally used automobiles, EVs do not emit tailpipe emissions, lower the
dependency on oil and are more economical to operate.
The escalating demand for
fuel-efficient automobiles across Egypt is one of the primary factors driving
the growth of the market. The elevating concerns regarding the detrimental
environmental effects owing to the greenhouse gases (GHGs) emissions, coupled
with the implementation of favourable government policies encouraging
sustainable development, are further supporting the market growth. The usage of
electric vehicles offers numerous benefits, such as tax exemptions, subsidies,
low buying costs and free charging facilities, by the government policies that
encourages their overall adoption rates.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "Egypt Electric vehicle Market"
Several manufacturers are focusing on the development of upgraded
technologies to produce zero- and low-emission vehicles with enhanced fuel
efficiency and soundless operations. With this, improvements in the EV charging
infrastructure are leading to extensive investments in utilities, charging
hardware manufacturers and other power sector stakeholders. Apart from this,
the elevating levels of urbanization, inflating disposable incomes and
extensive research and development (R&D) activities, are estimated to
witness the market growth over the forecast period.
However,
the expanding adoption of vehicle safety technologies coupled with the rising
electric vehicle sales is expected to hamper the electric vehicle in the coming
years.
The
Egypt electric vehicle market is segmented into vehicle type, propulsion, range, battery
capacity, regional distribution, and competitive landscape.
Based
on vehicle type, the market is divided into two-wheeler, passenger car, LCV,
and M&HCV. Passenger car segment is expected to hold the largest share in
the market in the forecast years, 2023-2027. The diesel and gasoline-based
passenger vehicle market is witnessing a shift toward electric passenger
vehicles on account of the extensive investments by the government in EV
infrastructure, coupled with the tax benefits offered to consumers.
Based
on propulsion, the market is divided into BEV, PHEV, FCEV. The
battery electric vehicle (BEVs) is anticipated to dominate the market in the
coming years,2023-2027. BEVs significantly aids in cutting down vehicular
emissions and minimizing the total cost of ownership in the long run. Advancement
in technology of the battery and the decreasing lithium-ion battery prices are
also expected to drive the demand for BEVs in the predicted years.
Based
on battery capacity, the market is segmented into <50 kWh, 51–100 kWh,
101–200 kWh, 201-300 kWh, above 300 kWh. 101–200 kWh segment is expected to
grow at the highest CAGR during the forecast period. This is attributed to the expanding
adoption of electric buses and trucks, mainly for public transportation and
freight service applications. The adoption of EVs with such power output is
increasing due to the rise in fuel prices and government initiatives for
lowering fleet emissions of buses and trucks.
Several
key market players operating in the Egypt electric vehicle market is:
- General Motors Company
- Daimler AG
- Jaguar Land Rover
- Nissan Motor Co., Ltd.
- Hyundai Motor Company,
- Tesla Inc.
Download Sample Report
Customers can also request for
10% free customization on this report.
“The decreasing operating
costs of electric vehicles has significantly worked as growth-inducing factor
for electric vehicle market. The growing awareness initiatives that have been
taken to encourage the use of electric vehicles, which promote the market growth.
With this, the increasing number of electric vehicle production plants owing to
the fact that EVs utilizes low emission technologies, which assist to decrease
the greenhouse gas emission levels and tackle other environmental issues.
Various countries such as Egypt are opting for sustainable solutions to reduce
greenhouse gas emissions that accelerates the market growth. The growing
concerns about the emissions from conventional internal combustible engines has
escalated the demand for electric vehicle across the Egypt which is positively
influencing the growth of the market. In addition to this, numerous leading
market players are increasing their production capacities to manufacture
sustainable electric vehicles as an electric vehicle is more recommendable than
a conventional IC engine vehicle. This, in turn, is projected to bolster the
growth of the market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm”.
“Egypt Electric Vehicle Market By Vehicle Type
(Two-Wheeler, Passenger Car, LCV, M&HCV), By Propulsion (BEV, PHEV, FCEV),
By Range (0-50 Miles, 51-150 Miles, 151-200 Miles, 201-400 Miles, Above 400
Miles), By Battery Capacity (<50 kWh, 51–100 kWh, 101–200 kWh, 201-300 kWh,
Above 300 kWh), By Region, Competition Forecast & Opportunities, 2027 has analyzed the future
growth potential of Egypt electric vehicle market market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and assist decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with significant drivers, challenges, and
opportunities in Egypt electric vehicle market.
Contact
Mr. Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]
Web:
https://www.techsciresearch.com